Case Study- Custom web applications/ portals

How we automated the customer KYC process for a Corporate Client.

The client was facing the below issues to which Innovins offered them a practical solution:

• Customer Data was decentralized: Multiple customers’ data were being recorded in various portals by different users. Thus the company was struggling with numerous and duplicate data being entered for the same customer. Moreover, other users uploaded multiple documents across different portals for the same customer. So the system did not have one accurate and final customer data to be referred to.
• Our Solution: We created a central repository of customer data in 1 web portal. User access level management was created, so multiple hierarchies of users were built with user-defined rules and access areas. So every user could see the customer data and access/ edit specific crucial data only if their role permitted the same. All customer data was mapped to a unique identifier like phone/ email/ authentication code, so if a new customer data was being entered, it was checked for its pre-existence in the system and prevented from re-entering the data again.
• Multiple Data entry: As data was decentralized, multiple users had to enter the same customer data multiple times. Again as this was being manually entered, there were data mismatches as well. So efforts were getting wasted and also inviting risks of human errors due to manual entries being done multiple times.
• Our solution: With data centralization in 1 portal and with a unique identifier in place to avoid data duplicity. The data was not allowed, rather not required to be re-entered, as the users could easily search for a customer with their name/ unique code assigned to the customer, and they could easily see the data. Only if customer data needs to be updated from time to time the specific user assigned with the data edit role, could easily do this from their access. Thus unnecessary data entry time/ errors were drastically reduced.
• KYC verification data entry was entered every time: The customer data being entered was in stages. Every user had to enter the same information repeatedly at every step as all were in different portals.
• Our solution: The same customer data was being carried forward to different stages of user access and processing without asking the user to re-enter the data. Just by typing the customer’s unique code, the customer data was auto-populated thus re-entering information manually was no longer required. So the users had to enter very little data at every stage. That was new data needed to be joined by that user against that customer only.
• KYC approval stage took a long time: As the data was entered by multiple users multiple times, there were many data mismatches for a given customer that happened because of various data entries. Again the same customer data was being re-entered. Hence, the verifier had to go through the same data repeatedly. Therefore the approval process became a lengthy process.
• Our Solution: As the data entry had to be done just once and duplicate data entry was prevented, the verifier had to go through the customer data just once and give his approval/ disapproval. Already verified customer data was never allowed to re-enter the system, thus avoiding a re-verification process. Also, the verification process was limited to existing customers’ data updation only.
• KYC process: The customer data entered was manual, and the verification process was also manual. Hence even the verification process had a risk of faulty verification and not so authentic to fully reply on.
• Our Solution: The verification process was linked to government APIs and documentation databases, so the data and documents of the customers were linked to government portals. Hence the system had accurate and pre-verified data only. Thus the verification process was simplified and made very authentic to rely on.
• No KYC verification report: As the customer data was decentralized, there was no single report to extract customer data and its verification status.
• Our solution: The authorized users could search for a customer using the unique identifier for the customer/ customer category-wise/ region-wise/ date of creation wise and extract the data along with the verification status with date and time in excel format. These reports could be utilized for further data analysis by different teams.
• The server was filled with unwanted data: As the data was being duplicated. The servers got full very quickly, with the same documents/ customer data being fed by multiple users again and again.
• Our solution: Due to data centralization, all customer data was filled once in the server with no data duplication, reducing server space utilization. This also reduced the server space expense drastically.